The Philippine Stock Market - June 17, 2009

Dow Jones Industrial Average (DJIA) Summary
Index Value: 8,504.67
Trade Time: June 16
Change: Down 107.46 (-1.25%)
Prev Close: 8,612.13
Open: 8,612.44
Day's Range: 8,499.38 - 8,643.65

WallStreet again posted a triple digit drop. The DJIA tests the 8500 level.

The local equities market continues its deep correction. It had another huge drop as the decline in WallStreet weighed down on investor sentiment. The Philippine Stock Exchange Index (PSEi) broke below the 2500 immediate support.

PSEi previous close - 2514.17 (June 16)

time-----------down------------PSEi
9:31----------13.26----------2500.91
9:32----------11.38----------2502.79

The PSEi tries to stay above the 2500 level.

9:33----------26.01----------2488.16

The 2500 support is broken and the market goes into a freefall.

9:37----------28.12
9:38----------29.29
9:39----------34.32----------2479.85

TEL is at PhP 2380; down by 2.66% from its previous close of PhP 2445.
This accounts for drop of 18.41 points in the PSEi.

9:40----------35.84
9:41----------40.59
9:42----------42.03
9:43----------49.12
9:44----------51.27----------2462.90

TEL is at PhP 2370 (-3.07%).
This accounts for drop of 21.23 points in the PSEi.

9:45----------53.23
9:46----------54.89
9:47----------57.95
9:48----------59.39
9:49----------62.45
9:50----------66.19
9:52----------68.21
9:54----------71.94
9:55----------72.24
9:57----------73.05
9:58----------80.57
10:00---------83.77---------2430.40

TEL is at PhP 2350 (-3.89%).
This accounts for drop of 26.87 points in the PSEi.

10:05---------84.25
10:10---------79.54
10:11---------79.17
10:13---------84.36
10:16---------84.69
10:18---------85.95
10:19---------87.61
10:20---------89.76
10:21---------93.00
10:22---------94.26
10:25---------95.67

10:27---------91.68
10:36---------95.58
10:37---------98.39
10:38---------99.66----------2414.51 (day's low)

The market tries to recover some of its losses in the next half-hour or so.

10:41---------94.86
10:43---------91.96
10:47---------89.23
10:49---------87.21
10:51---------86.63
10:53---------83.08
1o:54---------81.70
10:55---------78.61
10:56---------75.58
11:00---------75.06
11:02---------70.58
11:05---------69.00
11:07---------66.36
11:08---------65.75
11:09---------64.75
11:11---------62.94
11:13---------62.71

The market consolidates for the rest of the trading session.

11:22---------68.53
11:23---------69.10
11:24---------65.25
11:28---------67.67
11:32---------69.11
11:33---------71.05
11:35---------72.48
11:38---------68.93
11:42---------66.17
11:49---------70.20
11:51---------67.45
11:55---------66.84
11:58---------68.04
11:59---------69.77
12:01---------72.42----------2441.75 (-2.88%)
Market Close.

The immediate support is now seen at the chart gap at the 2398-2404 levels (left open last May 29 -June 1).

Value turnover: PhP 3.890 bn
Cross transactions: PhP 1.851 bn

Sectoral Indices were down across-the-board.
Industrial -3.53%
Finacial -2.81%
Services -2.74%
Property -2.36%
Holdings -2.27%
M-O -2.12%

The Day's Top Gainers:
PAL: PhP 3.00; +15.38%
HI: PhP 1.94; +6.59%
GSMI: PhP 17.00; +6.25%

The Day's Biggest Decliners:
VVT: PhP 4.10; -31.67%
JTH: PhP 1.60; -23.81%
JOH: PhP 1.22; -11.59%

At mid-day:
Asian equities market were mostly down.
The Philippine Peso was at PhP 48.362 vs US$ 1.00.


CLOSING PRICES OF SELECT STOCKS (as of June 17, 2009):
ABA: PhP 0.98
ALI: PhP 8.40
DGTL: PhP 1.36
EDC: PhP 3.75
EIBA: PHP 0.26
FLI: PhP 0.73
GEO: PhP 0.62
GOB: PhP 0.17
JOH: PhP 1.22
LOTO: PhP 9.60
MEG: PhP 1.04
MPI: PhP 5.80
MUSX: PhP 0.12
PAX: PhP 2.34
PX: PhP 6.40
SPH: PhP 2.90
SUN: PhP 0.43
TA: PhP 0.99
UW: PhP 0.0925
V: PhP 1.04
WEB: PhP 0.047